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This allows large investors to put strain on Bitcoins cost in a way not seen before. In other words, the introduction of Bitcoin futures on December 17th 2017 resulted primarily in subdued returns to Bitcoin going forward.Moreover, together with many Bitcoin ETF suggestions submitted to the SEC this season we start seeing a trend that's somehow concerning for our Bitcoin price prediction. According to a bodily Bitcoin ETF was rejected in April of the year. On August 22nd the SEC decided to reject 9 more Bitcoin ETFs.
Every one these funds sought to use futures contracts to get exposure, with several planning to short Bitcoin. The regulator needed a hard-deadline to deny or approve all these products over the next month; their orders to record had been pending since December and January. Investors expects to get a Bitcoin ETF now rest on just one fund from VanEck Associates Corp..
The ruler that month pushed back a ruling on that product until at least September and could ultimately take through February to make up its own mind.What we see is an emphasis on non-physical Bitcoin ETFs. The ETFs that are submitted are primarily derivatives. They can go short, or are correlated to Bitcoin futures.
Bitcoin usageAs per the Bitcoin usage and adoption figures on Statista.com the ownership of Bitcoin is still quite low, slightly but not much higher than when we published 10 Investment strategies For Cryptocurrencies Investing 18 months ago.The 3 stats shown below, nevertheless without precise statistics as thats only available for premium members, show that Bitcoin ownership was very low in the U.S.
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Adults planning on investing in Bitcoin is clearly a phenomenon for the younger generation which probably crypto a product of the electronic age.Moreover, when it comes to Bitcoin ATMs globally, we see a stagnation in the last few months. This is the very first sign of stagnation. It indicates to us that the notion of using Bitcoin as a payment procedure is being challenged right now.
This, naturally, is crucial information for outside Bitcoin price forecast for 2019. Bitcoin as an investment is maturing, with futures being introduced and other derivative products coming online in 2019 and beyond.Bitcoin adoption as a medium for transaction is not likely going to continue. Bitcoin does not possess the mandatory features of a payment method.
The older click now generation is skeptical.That stated, and as per InvestingHavens blockchain & crypto investing research, Bitcoin evolved early this season into the leading indicator for the crypto market. We started writing about this already in February, as the crypto crash was going on. Many crypto investors made a big error by focusing on the wrong indicators for the crypto market.
Nothing more, nothing less.Obviously, though this is true, it yields critical information for any crypto related investment, not only cryptocurrencies but additionally blockchain stocks.Our Bitcoin price prediction for 2019: $25,000With all the insights laid out in this article can we perform a Bitcoin price forecast for 2019 Yes, is the answer, and our annotated long term Bitcoin cost chart should help us with this.Below is the 4 year graph of Bitcoin.
Note that Bitcoin never fell into its service band, implying there was still plenty of downside potential before the long term bull market would be finished. This certainly is not how crypto investors believed about it, on the contrary.Bitcoin is now trending in its transition band, since May other of this year.
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But when the next strong phase of momentum in crypto land begins, Bitcoin will move into its bullish band. But with all insights laid out in this guide we dont see Bitcoin going to its super bullish band though.Thats why we think it is very realistic to anticipate $25,000 as a realistic Bitcoin price prediction for 2019, assuming that the crypto crash is finished.
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